President in WSJ CEO Council Interview Also Discusses Iran and Health Law

WASHINGTON—President Barack Obama said Tuesday he would accept a piecemeal approach to overhauling the immigration system, a move aimed at jump-starting a moribund process that reflects the realities of a divided Congress.

Mr. Obama has long favored the sweeping immigration bill that passed the Senate in June, but the House has made clear it wouldn't consider that measure. In a wide-ranging interview before business executives at The...